Hello, Tuesday N2K’ers!

Twitter hacks are on the rise, yet I bet your password, like mine, has been the same for years. Fortunately “password1” is extremely secure, and nobody is ever going to guess it. Then again the consequences of somebody hacking my Twitter account are probably less severe than if they hacked the account of a popular children’s puppet. There is also plenty of other news you’ll be equally intrigued by this morning. I guarantee it.

—Matt Davis, Need2Know Chedditor

News You Need2Know

• Elmo said a bad thing or two, or three, or ten

• Bitcoin hits record $123K on growing demand

• Musk rejects Tesla-xAI merger

• ‘Superman’ flies to $122M US opening

• EU wants a trade agreement with Trump

What’s the stock market up to, eh?

$SPX ( ▲ 0.32% )  $DJI ( ▲ 0.45% )  $NDX ( ▲ 0.2% )  

Companies mentioned in today’s newsletter

$BTC.X ( ▲ 2.45% )  $TSLA ( ▲ 3.65% )  

Elmo said a bad thing or two, or three, or ten

Ruh-roh. Not even Sesame Street’s forever 3 ½-year-old resident, Elmo, is safe from the darker corners of the internet. Over the weekend, Elmo’s X (formerly Twitter) account took a dramatic turn from wholesome hugs to hateful hacker havoc.

“Elmo’s X account was compromised by an unknown hacker who posted disgusting messages, including antisemitic and racist posts,” a Sesame Workshop spokesperson explained.

Was this some kind of surreal "Sesame Street after dark" reboot?

Mentioning Jeffrey Epstein? What vile exploits might be next for those fuzzy red hands?

X did not comment. They’ve been having enough trouble with their own rogue chatbot lately.

Song of the day: Daisies, Justin Bieber

The most popular track from his seventh album, “Daisies,” this bare-bones track chronicles the pop star’s relationship with his wife. It’s a juxtaposition of “vulnerability and strength,” says the New York Times, and I think rather catchy, too.

Bitcoin hits record $123K on growing demand

Bitcoin $BTC.X ( ▲ 2.45% ) enthusiasts are celebrating as the world’s largest cryptocurrency smashed through its previous all-time high, hitting $123,000 yesterday. The rally has largely been fueled by record-breaking inflows into Bitcoin exchange-traded funds.

According to Markus Thielen, CEO of 10x Research, institutional investors have gobbled up $15 billion in Bitcoin ETFs over the past two months, boosting confidence in the digital asset. Retail investors appear to have been on the sidelines during the latest rally, Thielen noted on CNBC.

This surge comes just as the U.S. Congress kicks off its much-anticipated “Crypto Week,” where new legislation could provide clearer regulatory frameworks for the crypto industry. With industry support growing and U.S. lawmakers stepping to the plate, Bitcoin’s trajectory toward $140,000 may no longer be a moonshot.

Today on the ‘gram: It’s a bug’s life

Post of the day: The Elmo thing has long legs

Quote of the Day

Musk rejects Tesla-xAI merger

Elon Musk has ruled out merging Tesla and his artificial intelligence startup xAI, but he instead announced plans to hold a shareholder vote to decide if Tesla should invest in the AI venture.

“If it was up to me, Tesla would have invested in xAI long ago,” Musk said on Elmo’s favorite social media platform.

The announcement comes amid reports that SpaceX, Musk’s rocket company, will contribute $2 billion as part of a $5 billion funding round for xAI. As Musk continues to integrate technology and talent across his ventures, Tesla engineers have already played a role in advancing xAI’s Grok chatbot, which is now rolling out to Tesla vehicles.

With Tesla's shareholder meeting set for November 6, all eyes will be on whether investors trust Musk’s AI vision to shape Tesla’s future. I’m going to say they probably will, but you never know!

Should you check your 401(k) today?

👍️ 

Markets are flirting with a record again.

‘Superman’ flies to $122M US opening

N2K readers are equally enthusiastic about “Superman 11” and “Jurassic Park 7,” as you’ll see from today’s poll results below, but no matter. Even if you do think both movies sound like a pile of derivative tosh, a lot of people went to see “Superman” this weekend.

The latest reboot has soared to box office success, earning $217 million globally in its opening weekend. With $122 million in the U.S. and Canada alone, this marks one of the top domestic openings of 2025. Directed by James Gunn, the filmmaker behind Marvel’s “Guardians of the Galaxy” trilogy, the film introduces David Corenswet as the new Man of Steel, alongside Rachel Brosnahan as Lois Lane and Nicholas Hoult as the villainous Lex Luthor.

James Gunn’s fresh take has received critical acclaim, earning an 82% approval rating on Rotten Tomatoes. The film kicks off a new era for DC Studios $WBD ( ▲ 4.57% ) under the leadership of Gunn, setting the stage for upcoming titles, including a Supergirl movie and new Batman and Wonder Woman films.

While the domestic response thrilled Warner Bros., international ticket sales underperformed expectations. “Superman has always been very American-centric,” noted Jeff Goldstein, Warner Bros.’ global distribution president. I always thought his story would resonate particularly well in Kazakstan.

EU wants a trade agreement with Trump

The European Union is eager to strike a vital trade agreement with the U.S. as looming threats of a 30% tariff on EU imports, announced by President Donald Trump, draw closer to the August 1 deadline. European Trade Commissioner Maros Sefcovic expressed cautious optimism yesterday, telling reporters he sensed the negotiations were “approaching a good outcome for both sides,” while acknowledging the urgency the new tariff threats had created.

The stakes are high, as such tariffs could bring devastating consequences for transatlantic trade. “A 30% tariff rate would make it almost impossible to continue trading as before with enormous consequences for supply chains and negative impacts on both sides of the Atlantic,” Sefcovic told Reuters. Determined to avoid this scenario, he assured reporters, “I will definitely do everything I can to prevent this super-negative scenario.”

I think they’ll figure something out, don’t you?

Poll of the Day: Do you own any bitcoin?

Poll Results: You’re equally into ‘Superman 11’ and ‘Jurassic Park 7.‘ That’s the good news.

We asked: Which do you favor, “Superman 11,” or “Jurassic Park 7?”

You answered:

🟨⬜️⬜️⬜️⬜️⬜️ 🦸 Faster than a speeding bullet! (112 votes)

🟨⬜️⬜️⬜️⬜️⬜️ 🦖 Riaowrrrrrrr! (113 votes)

🟩🟩🟩🟩🟩🟩 🤦🏻‍♂️ For the love of God ,can't they make a new, original movie? (524 votes)

749 Votes via @beehiiv polls